secwatch.observer — SEC 8-K summary
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Issuer:     Sunstone Hotel Investors, Inc. (SHO)
CIK:        0001295810
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001558370-24-015163
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sunstone Q3 net income $3.2M vs $15.6M; RevPAR down 1.3%; new $100M term loan
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- Net income fell to $3.2M from $15.6M YoY; Adjusted FFO per diluted share $0.18, down 21.7%.
- Comparable RevPAR declined 1.3% to $207.56; occupancy 68.8%, ADR $301.69.
- Adjusted EBITDAre decreased 15.9% to $53.6M.
- Entered $100M unsecured delayed draw term loan maturing Nov 2025, extendable to Nov 2026.
- Loan covenants: max leverage 6.50x, min fixed charge coverage 1.50x; unencumbered assets ≥$500M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1295810/000155837024015163/0001558370-24-015163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1295810/000155837024015163/sho-20241107x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-015163

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer